Bridge CEO, Steve Poulos, Weighs in on Commercial Property Market
Steve Poulos, CEO of Chicago-based real-estate investment and development firm Bridge Development Partners, which specializes in industrial properties, said he has noticed growing interest from private-equity firms in these assets.
“We’re seeing players coming into our space that we’re not used to seeing,” he said.
Bridge acquired or developed about $1.2 billion worth of properties in 2018, according to Mr. Poulos, up from about $800 million in 2017. The company increased its investment in part because economic growth and the rise of online retail are driving up warehouse rents. “We’re not seeing the red light yet,” Mr. Poulos said.